Substantial Freehold Trade and Retail Builders' Merchant Investment
Let to Parkers Building Supplies Limited - a part of Independent Builders' Merchants Group
Lease expires July 2029 (subject to option) - Tenant option to renew in January 2029
Important rent review July 2024 - Notice served at £285,000 pa
Future Development potential (subject to lease and consents)
Extensive site area of 4.82 acres (1.95 ha) providing a very low site coverage of 7%
Warehouse, Trade Counter and Office Buildings comprising approximately 15,335 sq ft
VAT-free investment
Affluent Surrey location
Lot 10
Auction 9th July 2024
Rent £220,000 per Annum Exclusive
Status Sold Prior
Price
Sector Trade Counter/Builders Merchants
Auction Venue Live Streamed Auction
Property Information
Location
Miles
13 miles north-east of Crawley, 22 miles south of Central London, 25 miles north-west of Royal Tunbridge Wells
Roads
A22, A25, M23 (Junction 8), M25 (Junction 6)
Rail
Godstone Railway Station
Air
London Gatwick Airport (12 miles)
Situation
Godstone is an affluent and historic Surrey village, located 13 miles north-east of Crawley and 22 miles south of Central London. The property is situated on the western side of Eastbourne Road, less than a mile from Godstone village. The property benefits from excellent communication links being within close proximity to A22, M23 (Junction 8) and less than 1.5 miles from the M25 (Junction 6).
Tenure
Freehold.
Location
Miles
13 miles north-east of Crawley, 22 miles south of Central London, 25 miles north-west of Royal Tunbridge Wells
Roads
A22, A25, M23 (Junction 8), M25 (Junction 6)
Rail
Godstone Railway Station
Air
London Gatwick Airport (12 miles)
Situation
Godstone is an affluent and historic Surrey village, located 13 miles north-east of Crawley and 22 miles south of Central London. The property is situated on the western side of Eastbourne Road, less than a mile from Godstone village. The property benefits from excellent communication links being within close proximity to A22, M23 (Junction 8) and less than 1.5 miles from the M25 (Junction 6).
Tenure
Freehold.
Description
The property comprises a trade and retail builders' merchant with associated yard and buildings totalling 15,335 sq ft, covering approximately 4.82 acres (1.95 Ha). The only vehicular access to the site is from the main yard entrance from Eastbourne Road.
The property comprises a detached building at the entrance to the site providing a showroom and reception, with a rear office on the ground floor, and office/staff facilities on the first floor. There is also a detached single-storey portal frame warehouse, two open-sided steel portal frame warehouses and a two-storey link building, which provides kitchen/ancillary accommodation.
The property benefits from a substantial weighbridge, along with approximately 25 marked car parking spaces, with scope for future parking if required.
Part of the operational site is outside the freehold title and is subject to a 25-year agreement from 13/05/2002 with Godstone Parish Council. In addition, please note that the area let to the tenant does not comprise the whole of our client’s freehold title – please see legal pack.
VAT
VAT is not applicable to this lot.
Planning
The property may lend itself to alternative uses and/or redevelopment, subject to obtaining all the necessary consents. All enquiries should be made with Tandridge District Council. (www.tandridge.gov.uk) (Phone: 01883 722000)
Completion Period
Six Week Completion
EPC
The EPC's will be available to view online in the solicitor’s legal pack.
Description
The property comprises a trade and retail builders' merchant with associated yard and buildings totalling 15,335 sq ft, covering approximately 4.82 acres (1.95 Ha). The only vehicular access to the site is from the main yard entrance from Eastbourne Road.
The property comprises a detached building at the entrance to the site providing a showroom and reception, with a rear office on the ground floor, and office/staff facilities on the first floor. There is also a detached single-storey portal frame warehouse, two open-sided steel portal frame warehouses and a two-storey link building, which provides kitchen/ancillary accommodation.
The property benefits from a substantial weighbridge, along with approximately 25 marked car parking spaces, with scope for future parking if required.
Part of the operational site is outside the freehold title and is subject to a 25-year agreement from 13/05/2002 with Godstone Parish Council. In addition, please note that the area let to the tenant does not comprise the whole of our client’s freehold title – please see legal pack.
VAT
VAT is not applicable to this lot.
Planning
The property may lend itself to alternative uses and/or redevelopment, subject to obtaining all the necessary consents. All enquiries should be made with Tandridge District Council. (www.tandridge.gov.uk) (Phone: 01883 722000)
Completion Period
Six Week Completion
EPC
The EPC's will be available to view online in the solicitor’s legal pack.
PARKER BUILDING SUPPLIES LIMITED (1) (t/a Fairalls Builders Merchant)
10 years from 16/07/2019 on a full repairing and insuring lease (2)
£220,000
16/07/2024 (3)
Total
1,424.60
(15,335)
£220,000
(1) Fairalls Builders Merchant is a leading provider of high-quality building materials and supplies for trade and retail customers in the UK. Parkers Building Supplies Limited was acquired by Cairngorm Capital in 2018, and forms part of a holding company known as the Independent Builders' Merchants Group. IBMG is the largest building materials distributor in the South of England, formed through more than 20 acquisitions made since the start of 2018. IBMG trades from over 170 branches across the south of England, with combined revenues of circa £650m and over 2,000 employees (www.cairngormcapital.com). For the year ending 31/12/2022, Parker Building Supplies Limited reported a turnover of £91,893,811, a pre-tax profit of £6,869,260 and a net worth of £10,112,775 (www.northrow.com) (2) The tenant has an option to take a new 10-year lease which must be exercised before 15/01/2029. The lease is subject to a tenant only option to determine on 16/07/2026. The lease is also subject to a schedule of condition. The lease is drawn outside the provisions of the Landlord and Tenant Act 1954. (3) Notice served at £285,000 pa - please see legal pack.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
